Alameda schools officials offer end-of-year financials

When all is said and done, Alameda Unified will have about $1.3 million less in the bank at the close of its books for the 2011-2012 school year than it did when the year started, unaudited financials presented to the Board of Education on Tuesday show, though the district has far more cash in hand than is legally required. But the school district could be looking at fresh cuts in the future if voters reject state ballot measures that would raise taxes to fund schools, its top business official said.

The district had a total fund balance of $16.2 million when it closed its books on June 30, the financial report shows, though that amount will drop by $2.5 million after the district pays for a list of things the school board approved last year but which the district hasn’t paid for yet. It’s a list that includes money to fund innovative and magnet school programs, a district office move, a new attendance system, books and a one-time raise for non-teaching staff, among other things.

All told, the district took in $87.7 million last year and spent $83.3 million, not including the spending that was approved but has not yet occurred. A little more than half of the fund balance, about $8.7 million, is set aside in a special reserve fund. The school district is legally required to maintain 3 percent of its budget in a reserve for economic uncertainties, and board policy requires the district to maintain enough money to cover a month’s worth of payroll, Shemwell said.